In today’s briefing:
- New Issue Snapshot: Vista Energy
- Lucror Analytics – Morning Views Asia
New Issue Snapshot: Vista Energy
- We are initiating coverage on Vista with an Outperform recommendation. We view Vista as an attractive option for investors seeking exposure to Argentina’s energy sector.
- Vista boasts a robust financial and business risk profile, supported by strong credit metrics, solid profitability, and its leadership position in Argentina’s Vaca Muerta shale formation.
- Vista is exposed to fewer sovereign and political risks than YPF, and its unique growth opportunity adds to its appeal.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Shimao Group, Guangzhou R&F, New World Development
- In the US, the FOMC has voted 11-1 to reduce the Fed funds target rate by 25 bps to 4.25-4.50%, a move in line with market expectations. Cleveland Fed President Beth Hammack voted against the decision, in favour of keeping rates steady instead.
- Fed Chairman Jerome Powell noted during a press conference that the central bank has lowered the policy rate by a full percentage point from its peak, adding that interest rates are still meaningfully restraining economic activity and that the Fed remains on track to further reduce rates.
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